Kristijan Krstic, head of a Ponzi empire that allegedly bilked consumers out of $70 million, has been released from custody.

Pending a decision from the European Court of Human Rights, Krstic will remain under house arrest till August 16th.

After spending a year behind bars, Krstic (right) is one of three defendants released from custody on July 23rd.

The release appears to be tied to a limitation on the length of custody imposed last July.

The remaining seven co-defendants, including Krstic’s wife, have already been released under house arrest.

All ten defendants face extradition to the US and lengthy prison sentences. An eleventh defendant has already consented to extradition.

Krstic’s attorney is arguing that extradition to the US to face criminal charges violates his human rights.

As a surety he won’t flee, Krstic is required to report to police daily.


Update 17th August 2021 – Citing the need for Serbia to answer “more questions” pertaining to Krstic’s extradition, the European Court of Human Rights has extended the August 16th deadline to September 29th.

As I understand it Krstic and his fellow defendants remain under house arrest till then.


Update 2nd September 2021 – After reuniting with their children, the Krstics have violated their release conditions and fled.